The Metal Gear Solid HD Collection is fantastic, but it doesn't feature a high-definition remake of the original classic.
And that's because it would have to be entirely rebuilt and redone (the primary reason why you just won't see high-def overhauls for PS1 games). Franchise creator Hideo Kojima says part of him wants to deliver what the fans desire, but the other part is more of a realist and recognizes the significant generational and technological gap.
In speaking to OPM UK , Kojima first said that as a producer, he'd want to answer the calls of the die-hard fans who want a remake of the original title. But at the same time, it would have to be redesigned from the ground up; the only thing that would remain the same would be the story. And as for the rest of the production-
"If you bring the gameplay up to modern standards, then you lose a bit of the original game. It was a game made for a certain era – not just the story, but the controls and everything about it reflect that era in which the game was made."
In an action-based game like MGS, we fully understand that sentiment. But does it apply to everything? Everyone is always pining for a Final Fantasy VII remake, for instance; would that require a control and mechanical overhaul? MGS certainly would but might modern-day RPG fans really despise the slower turn-based style? That's a whole other can of worms, but you can see the contrast…